A LARGE Breakout Coming For the Emerging Markets?

The emerging markets have been the dogs of the bunch the past few years, while the sp500 makes new all-time highs the Emerging Markets have been lagging. Over the past few years they have been consolidating within a massive pennant formation, eventually this will break up or down and I think, based on how it is holding higher on the daily and weekly time frames, it is poised to beak up and out very soon.

The first chart you will see below is a chart of the EEM on the weekly timeframe, as you can see it has been holding higher over the 21 ema for the past few weeks, consequently forming a nice bull flag pattern as it tests overhead trendline resistance.

The next chart you will see below is of the daily timeframe. As you can see on this chart, it is a similar formation, price is holding higher over the 21 ema forming a nice tight bull flag pattern.

The combination of these two patterns has me thinking that over the next year or so, $EEM could be a very good long-term swing or investment of sorts. I am looking to enter to EEM versus the 40.00 level for a breakout over the 43.00 level. Remember, the larger the risk, the smaller the size.